🇧🇷 THEN they say the blame is on the government! 🤷
The recent increase in the Selic rate to 15%, giving Brazil the title of the second highest real interest rate in the world, shows the blatant dominance of rent-seeking and financial oligarchy over monetary policy — an interference that raises barriers to national development, hinders access to credit for those who produce, and serves only to increase the speculative income of large banks and rentiers. By maintaining this absurd and shameful level, the COPOM, held hostage by the financial market, represses investments in infrastructure, industry, and innovation, and condemns Brazilian workers and entrepreneurs to a permanent cycle of underdevelopment and inequality. It is urgent to defend a truly independent Central Bank — a guardian of real stability and sovereign growth, which, far from oligarchic interests, uses the tool of interest rates to stimulate the economy, employment, and social justice, and not to fatten the financial speculation that keeps the country stagnant.
